Norway’s Scatec expands renewable energy investment in Egypt

Scatec, one of the  leading renewable energy solutions providers, is expanding its clean energy investment in Egypt, doubling down on solar power, battery storage and green hydrogen as the North African nation positions itself as a regional hub for renewable energy and foreign direct investment.

The move comes as Egypt ramps up efforts to attract green energy investment, streamline licensing and boost private-sector participation in large-scale infrastructure projects. 

Scatec Chief Executive Officer, Terje Pilskog said the company sees “strong momentum” in Egypt’s renewable energy market, citing improvements in the business climate and close cooperation with state authorities.

Pilskog made the remarks during a meeting with Investment and Foreign Trade Minister Mohamed Farid, where discussions centered on scaling solar projects, expanding battery energy storage systems and accelerating green hydrogen development, all key pillars of Egypt’s energy transition strategy.

Egypt’s clean energy ambition gains foreign backing

Egypt has emerged as one of Africa’s fastest-growing renewable energy markets, driven by rising electricity demand, export ambitions and climate commitments. Government officials say renewable energy is central to boosting foreign direct investment, supporting export-led industries and strengthening energy security.

Farid reaffirmed Cairo’s commitment to providing a stable investment climate, highlighting reforms aimed at simplifying permits and improving transparency. Authorities are also pushing to localize renewable energy technology and increase domestic content in major projects — a step designed to deepen industrial capacity while creating jobs.

For Scatec, Egypt represents a strategic gateway linking Africa, the Middle East and Europe. The country’s geographic position and access to Mediterranean trade routes make it well-placed to export green electricity, green hydrogen and low-carbon ammonia to European markets seeking alternatives to fossil fuels.

Solar, storage and green hydrogen in focus

Scatec’s global portfolio spans solar power, wind energy, battery storage and emerging green hydrogen projects. In Egypt, the company is prioritizing utility-scale solar plants integrated with battery energy storage systems, a combination increasingly viewed as critical to delivering 24-hour clean power.

Reliable renewable energy supply is expected to underpin energy-intensive, export-oriented sectors such as manufacturing and fertilizers, improving their global competitiveness as carbon regulations tighten in Europe.

The company currently has 6.2 gigawatts of renewable energy capacity in operation or under construction across five continents. Founded in 2007 as Scatec Solar ASA, the Oslo-based firm has evolved into a diversified renewable energy solutions provider focused on emerging markets.